Bitcoin miner Hut 8 has secured a $150 million investment from Coatue Management to develop AI infrastructure and expand its data center portfolio. This funding, through a convertible note with an 8% annual interest rate, aims to leverage Hut 8's existing energy-intensive infrastructure to meet the surging demand for AI compute capacity. Hut 8 plans to utilize its expertise in high-performance computing and energy management to position itself as a leader in the AI infrastructure market. The investment highlights a growing trend where AI firms are partnering with Bitcoin miners to capitalize on their established computing power and power supply deals, evidenced by similar moves from other miners like Core Scientific. This strategic move comes as traditional data centers struggle with power shortages and long lead times, emphasizing the appeal of Bitcoin miners' capabilities.